We report new spectroscopic and photometric observations of the parent stars of the recently discovered transiting planets TrES-3 and TrES-4. A detailed abundance analysis based on high-resolution spectra yields [Fe/H] = –0.19 ± 0.08, T_(eff) = 5650 ± 75 K, and log g = 4.4 ± 0.1 for TrES-3, and [Fe/H] = +0.14 ± 0.09, T_(eff) = 6200 ± 75 K, and log g = 4.0 ± 0.1 for TrES-4. The accuracy of the effective temperatures is supported by a number of independent consistency checks. The spectroscopic orbital solution for TrES-3 is improved with our new radial velocity measurements of that system, as are the light-curve parameters for both systems based on newly acquired photometry for TrES-3 and a reanalysis of existing photometry for TrES-4. We have redetermined the stellar parameters taking advantage of the strong constraint provided by the light curves in the form of the normalized separation a/R_* (related to the stellar density) in conjunction with our new temperatures and metallicities. The masses and radii we derive are M_* = 0.928^(+0.028)_(–0.048) M_⊙, R_* = 0.829^(+0.015)_(–0.022) R_⊙, and M_* = 1.404^(+0.066)_(–0.134) M_⊙, R_* = 1.846^(+0.096)_(–0.087) R_⊙ for TrES-3 and TrES-4, respectively. With these revised stellar parameters, we obtain improved values for the planetary masses and radii. We find M_p = 1.910^(+0.075)_(–0.080) M_(Jup), R_p = 1.336^(+0.031)_(–0.036) R_(Jup) for TrES-3, and M_p = 0.925 ± 0.082 M_(Jup), R_p = 1.783^(+0.093)_(–0.086) R_(Jup) for TrES-4. We confirm TrES-4 as the planet with the largest radius among the currently known transiting hot Jupiters
